Strategic Energy Resources (ASX:SER) has completed its acquisition of 100% of the Diamantina Copper-Gold Project from Anglo American, setting the stage for a maiden diamond drilling campaign targeting promising copper-gold mineralisation in northwest Queensland.
- Acquisition finalised with $150,000 cash and shares issued to Anglo American
- Anglo American becomes a 2%+ shareholder in SER
- Maiden diamond drilling planned at Elizabeth Springs East Prospect
- Historical drill holes show significant copper and gold intersections
- Preparations include Native Title survey and earthworks this quarter
Acquisition Completes with Anglo American as Shareholder
Strategic Energy Resources (ASX:SER) has officially secured 100% ownership of the Diamantina Copper-Gold Project in northwest Queensland, finalising the deal with Anglo American Exploration (Australia) through a $150,000 cash payment and the issuance of $150,000 worth of SER shares. This transaction leaves Anglo American holding over 2% of SER's issued capital, aligning the major resource player as a strategic shareholder rather than a vendor.
Diamantina Project Consolidates Significant Landholding
The project now comprises two granted Exploration Licences acquired from Anglo American alongside four adjoining Exploration Licence Applications recently secured by SER, creating a substantial contiguous land package prospective for copper-gold mineralisation. This consolidation is a key step in SER’s strategy to advance a high-potential asset with historical data indicating promising mineralisation.
Diamond Drilling Targets Extensions of Historical Mineralisation
With ownership secured, SER is pivoting to its maiden diamond drilling program at the Elizabeth Springs East Prospect. The drilling will test extensions of historical holes including DCT010, which intersected 6.5m at 0.52% copper and 0.16% nickel from 423m, and DTD002, notable for 161m at 0.4% copper and 0.11g/t gold from 449m, including a higher-grade zone of 17.3m at 1.76% copper and 0.37g/t gold from 465m. These results underpin the project’s discovery potential and justify the upcoming exploration push.
Preparations Underway for Drilling This Quarter
In the coming months, SER plans to complete a Native Title survey at Elizabeth Springs East, followed by earthworks to ready the site for the diamond drill rig’s arrival. The timing aims for drilling to commence within the current quarter, partially supported by a Queensland Government grant, which reduces exploration risk and capital intensity for SER.
SER’s Broader Exploration Momentum in Queensland
This acquisition and drilling initiative dovetails with SER’s broader exploration agenda, which includes joint ventures at the Canobie Project with Fortescue Metals Group and the Bulimba Project with Sumitomo Metal Mining. The company is gearing up for a busy 2026 drilling season across multiple copper-gold targets, leveraging partnerships and government funding to advance its portfolio efficiently.
Bottom Line?
SER’s full control of Diamantina and imminent drilling mark a pivotal exploration phase, but results will be critical to validate the project’s potential.
Questions in the middle?
- Will the maiden diamond drilling confirm extensions of the historical high-grade mineralisation?
- How will Anglo American’s new shareholder status influence SER’s strategic direction or capital access?
- What impact will the Native Title survey and regulatory processes have on the drilling timeline?